Swiss exchange gets regulatory approval to launch digital exchange

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The Swiss SIX Exchange has received regulatory approval to launch a digital exchange, the first step towards shaping the markets of the future.

A regulatory win for crypto

A recent ruling from FINMA, the Swiss market watchdog, has resulted in the granting of two licenses to SIX Digital Exchange, the newly anticipated digital arm of the national stock exchange SIX. The licenses enable SIX Digital Exchange to operate a stock exchange and repository for blockchain-based securities. Such a digital entity can also be referred to as a digital exchange. AN stock market is a marketplace for trading securities, commodities, derivatives or other financial instruments, and in this case can provide a regulated alternative to the largely unregulated crypto exchange space. Binance, the world’s leading crypto exchange, has recently come under fire from authorities in Singapore and South Africa because it is the most recent and highlights how the lack of regulation is affecting the operation of exchanges worldwide.

SIX Doesn’t Work Like Uber, SIX Head of Exchange Says

SIX Digital Exchange presented plans to launch a digital exchange in 2018, but Thomas Zeeb, SIX’s global head of exchanges, said in 2019 that he did not want to launch another Uber. This was an ironic reference to Uber not seeking regulatory approval before launching in countries.

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